Benzinga | Nov 29, 2021 08:54AM EST

Why Li Auto Shares Are Rising

Li Auto Inc. (NASDAQ:LI) shares are trading higher after the company reported better-than-expected third-quarter financial results.

Li Auto reported third-quarter diluted earnings per ADS of 5 cents, which beat the estimate of a loss of 2 cents, and sales results of $1.21 billion, which beat the $1.16 billion estimate.

The company also reported deliveries of Li ONEs were 25,116 vehicles in the third quarter of 2021, representing a 190% year-over-year increase.

Li Auto Inc., through its subsidiaries, designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China.

Li Auto's stock was trading about 9% higher at $35.31 per share on Monday at the time of publication. The stock has a 52-week high of $39.35 and a 52-week low of $15.98.